Cryptocurrency Price Today (May 8): Bitcoin Climbs Above $98,000, EOS Becomes Top Gainer
Cryptocurrency price on May 8 quick take: The global market cap rose to $3.06 trillion.
Bitcoin (BTC), the world’s oldest and most valued crypto, rose above the $96,000 mark early Monday. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the green across the board as the overall Market Fear & Greed Index stood at 53 (Neutral) out of 100, as per CoinMarketCap data. Litecoin (LTC) became the biggest gainer, with a 24-hour jump of nearly 11 percent. Virtuals Protocol (VIRTUAL) turned out to be the biggest loser today, with a 24-hour dip of nearly 13 percent.
The global crypto market cap stood at $3.06 trillion at the time of writing, registering a 24-hour jump of 2.63 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $98,749.63, registering a 24-hour jump of 2.46 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 79.69 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,897.06, marking a 24-hour gain of 3.79 percent at the time of writing. Ethereum price in India stood at Rs 1.52 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 4.89 percent, as per CoinMarketCap data, currently priced at $0.1801. Dogecoin price in India stood at Rs 14.54.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.22 percent. At the time of writing, it was trading at $91.64. LTC price in India stood at Rs 7,401.74.
Ripple (XRP) Price Today
XRP price stood at $2.17, seeing a 24-hour jump of 1.98 percent. Ripple price in India stood at Rs 182.86.
Solana (SOL) Price Today
Solana price stood at $150.21, marking a 24-hour gain of 3.21 percent. SOL price in India stood at Rs 12,333.74.
Top Crypto Gainers Today (May 8)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
EOS (EOS)
Price: $0.8377
24-hour gain: 21.22 percent
Bitcoin Cash (BCH)
Price: $416.82
24-hour gain: 12.57 percent
Theta Network (THETA)
Price: $0.7796
24-hour gain: 11.37 percent
Stacks (STX)
Price: $0.9179
24-hour gain: 11.34 percent
Immutable (IMX)
Price: $0.5822
24-hour gain: 10.86 percent
Top Crypto Losers Today (May 8)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
DeXe (DEXE)
Price: $14.65
24-hour loss: 3.85 percent
Monero (XMR)
Price: $283.90
24-hour loss: 1.31 percent
Kaia (KAIA)
Price: $0.1138
24-hour loss: 1.10 percent
Bitget Token (BGB)
Price: $4.28
24-hour loss: 0.63 percent
PAX Gold (PAXG)
Price: $3,374.05
24-hour loss: 0.53 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Edul Patel, CEO and co-founder, Mudrex, told ABP Live, “Bitcoin is holding strong above $98,700, attempting a breakout past the key psychological level of $100,000. The Fed's decision to keep benchmark interest rates steady between 4.25% and 4.50%, while acknowledging continued economic strength, has reinforced positive market sentiment. Meanwhile, China’s liquidity-boosting measures and the Fed's return to quantitative easing, with over $34 billion in bond purchases this week, have created a supportive macro backdrop for crypto. Any fresh wave of liquidity could reduce real yields, devalue fiat, and potentially drive further inflows into crypto assets. A move past $99,300 could trigger a wave of short liquidations, helping Bitcoin’s rally beyond the $100K mark.”
CoinSwitch Markets Desk noted, “BTC surged past the $98K mark for the first time in 75 days, posting a 2.2% gain over the last 24 hours. The price remains well-supported, trading above its 50-day, 100-day, and 200-day moving averages. Institutional momentum continues to build, with U.S. spot Bitcoin ETFs recording $105 million in net inflows yesterday. Tokyo-based Metaplanet also acquired 555 BTC as part of its ongoing accumulation strategy. Among altcoins, Sui gained 5.1% , followed by ADA and SOL, which rose 3.1% and 2.3%, respectively.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is trading around $96,400 today with bullish momentum following the Fed’s neutral stance. It’s approaching key resistance at $97,650, and a breakout could push prices toward $100,000. On-chain data shows significant whale accumulation, reinforcing long-term confidence. RSI is nearing overbought, so some short-term volatility is possible. Support lies at $94,500 and $92,000. As long as BTC holds above $94K, the bullish structure remains intact. Traders are watching for a breakout confirmation or a healthy pullback. Mid-term sentiment remains strong with projections targeting $120K–$150K by year-end. Stay alert for U.S. economic data that could impact momentum.”
Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin continues to hold above the critical $95,000 support level, currently trading around $98,859. This stability comes amid a broader market correction, suggesting resilience in the leading cryptocurrency. As per the data from Farside Investors, Fidelity's Bitcoin ETF recorded a significant inflow of $39.9 million, indicating strong institutional interest. The strong institutional interest has historically pushed the Bitcoin and broader crypto market higher and we can expect the same momentum in the current scenario.”
CoinDCX Research Team noted, “The Bitcoin bulls are back in action as the token is inching close to the psychological barrier at $100K. Besides, the crypto market capitalization reclaimed the levels above $3 trillion, displaying the growing strength of the bulls. Besides, the altcoins within the top 10 attracted marginal gains, while EOS remained the top gainer with over a 17% jump, followed by Stacks & Theta Network with an 8% to 9% rise. Meanwhile, some cryptos faced some bearish action, with DeXe plunging by more than 5%, followed by Helium & Virtuals Protocol by 2% to 3%.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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